UPDATE: DirecTV Posts Upbeat Q1 Earnings

DirecTV

reported a better-than-expected first-quarter profit. DirecTV's quarterly earnings slipped to $561 million, or $1.09 per share, versus a year-ago profit of $690 million, or $1.20 per share. Its adjusted earnings came in at $1.63 per share. Its revenue climbed 4% to $7.86 billion versus $7.58 billion. However, analysts were estimating earnings of $1.51 per share on revenue of $7.92 billion. The company's press release offered the following comment from Mike White, president and CEO of DIRECTV: “Our first quarter results continue to demonstrate the strong execution of our operations.” DirecTV shares fell 0.04% to close at $79.84 yesterday.